Ratings

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56 minutes ago CI maintains ADCB rating at A; outlook stable

Abu Dhabi - Mubasher: Capital Intelligence Ratings (CI) has affirmed the financial strength rating (FSR) of Abu Dhabi Commercial Bank (ADCB) at 'A', according to a report issued on Tuesday. The ratings agency also maintained the bank’s foreign and …

A rise in credit risk along with the lower oil prices continue to be major constraining factors

26 September 09:39 AM Capital Intelligence affirms GFH rating; outlook ‘stable’

Mubasher: GFH Financial Group on Tuesday said that Capital Intelligence Ratings has confirmed the bank’s long-term rating at ‘BB’ and short-term rating at ‘B’. The ratings agency gave the Bahrain-based bank a ‘stable’ outlook, GFH said in a filing …

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25 September 11:24 PM CI affirms NBE rating, outlook stable

Cairo - Mubasher: Capital Intelligence Ratings (CI) has affirmed the National Bank of Egypt's (NBE) long- and short-term foreign currency ratings (FCRs) at 'B', with a 'Stable' Outlook, according to a report issued on Monday. The ratings agency …

Moody’s has also affirmed ABK’s “Stable” Outlook

24 September 05:09 PM Moody’s affirms ABK credit ratings

Mubasher: Moody’s Investors Service affirmed Al Ahli Bank of Kuwait’s (ABK) long-term local currency deposits at “A2”, which is the same rating for the bank’s long-term foreign currency deposits. Moody’s has also affirmed ABK’s “Stable” Outlook, …

Egypt's economic growth is still below pre-revolution levels

19 September 08:22 PM Egypt benefits from reforms, weak gov’t finances pose major challenge – Moody’s

Cairo – Mubasher: Egypt’s current credit profile, rated “B3 stable” by Moody’s Investors Services, has a large, diversified economy and strong reform momentum, the ratings agency said in a report released late Tuesday. It added that this credit …

DIG has strong risk-adjusted capitalisation

19 September 09:07 AM A.M. Best affirms DIG ratings

Doha – Mubasher: A.M. Best affirmed Doha Insurance Group’s (DIG) financial strength rating of “A-” and the long-term issuer credit rating of “a-”, according to a statement. The ratings agency added that outlook of these credit ratings is stable. …

The ratings agency affirmed the bank’s short-term FCR at “A3”

18 September 12:37 PM Capital Intelligence affirms CBI’s ratings

Abu Dhabi – Mubasher: Capital Intelligence Ratings (CI Ratings) has affirmed the long-term foreign currency rating (FCR) of UAE's Commercial Bank International (CBI) at “A-”, according to a statement. The ratings agency affirmed the bank’s …

Kuwait’s balance sheet is seen as the “strongest in the GCC"

17 September 06:52 PM Kuwait enjoys strong balance sheet; growth seen weak – Capital Economics

Mubasher: Kuwait’s balance sheet is seen as the “strongest in the GCC”, however, undertaken austerity measures and the slowness in implementing the government’s development plan are likely to result in Kuwait being one of the ‘region’s weaker …

The ratings reflect DNIR’s strong capital

17 September 11:20 AM A.M. Best gives Dubai National Insurance ‘B++’ rating

Dubai – Mubasher: Dubai National Insurance and Reinsurance (DNIR) has been awarded a ‘B++’ financial strength rating (FSR) and a ‘bb+’ long-term credit rating, with a stable outlook by A.M. Best. The ratings reflect DNIR’s strong capital, risk …

The change in outlook is amid weaker operating environment and government capacity for support

6 September 01:22 AM Moody's changes outlook on Oman banking system to negative

Mubasher: Moody’s has changed its outlook on Oman's banking system to negative from stable, according to a report issued on Tuesday. This is reflecting a reduction in the government's capacity to support the country's banks, as well as softer …

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5 September 08:40 PM CI upgrades Egypt’s sovereign ratings

Cairo - Mubasher: Capital Intelligence Ratings (CI Ratings) announced that it has upgraded Egypt's long-term foreign and local currency ratings to 'B' from 'B-', according to a report issued on Monday. The ratings agency also affirmed its …

Boubyan’s profitability is forecast to remain stable

5 September 02:30 PM Moody’s affirms Boubyan Bank ratings

Mubasher: Moody's Investors Service has affirmed the long-term deposits rating of Boubyan Bank at “A3”, with a “Stable” outlook. Meanwhile, the rating agency affirmed the bank’s short-term deposits at “P-2”, with the credit rating maintained at …

Al Imtiaz's short-term credit rating was affirmed at “A3”

30 August 04:50 PM CI affirms Al Imtiaz credit ratings

Mubasher: Capital Intelligence (CI) has affirmed the long-term credit rating of Al Imtiaz Investment Group at “BBB”, with a “Stable” outlook. Meanwhile, the short-term credit rating was affirmed at “A3”, with a “Stable” outlook, according to a …

The stable outlook is due to the bank's ability to absorb additional provisioning

28 August 05:03 PM CI affirms Rakbank’s A- rating; outlook stable

Mubasher: Capital Intelligence Ratings (CI) has affirmed the financial strength rating (FSR) of the National Bank of Ras Al-Khaimah (Rakbank) at 'A-', according to a report issued on on Monday. The bank's solid capital ratios, strong …

A cut in Iraqi oil production could affect economic growth this year

26 August 04:56 PM S&P confirms Iraq credit rating

Mubasher: Standard and Poor's (S&P) on Friday confirmed Iraq’s credit rating at B-/B with a stable outlook, according to a recent report. However, the credit rating agency predicted a cut in oil production would affect economic growth in 2017. The …

26 August 03:12 PM S&P affirms Qatar's ratings; changes outlook to negative

Mubasher: Standard and Poor's (S&P) have maintained Qatar’s sovereign credit rating at AA-, and revised outlook to negative from credit watch negative, according to a recent report. The ratings agency expects the ongoing boycott of Qatar’s economy …

Moody's also changed the outlook on the bank's long-term issuer ratings to stable from positive

25 August 10:22 PM Moody's upgrades DIB ratings to A3; outlook stable

Dubai - Mubasher: Moody's Investors Service upgraded Dubai Islamic Bank’s (DIB) local and foreign currency long-term issuer ratings to A3 from Baa1 and, and changed the outlook on the bank's long-term issuer ratings to stable from positive. The …

The budget is likely to post a deficit of 0.7% of the GDP in 2017, before returning to a surplus in 2018-2019.

22 August 01:58 PM Fitch affirms Ras Al Khaimah ratings

Abu Dhabi – Mubasher: Fitch Ratings has affirmed Ras Al Khaimah's (RAK) long-term issuer default ratings (IDRs) at “A”, with a “Stable” outlook, according to a statement. The ratings reflect the benefits of RAK's membership of the UAE, a low …

This rating reflects Gulf Insurance’s strong and leading position

20 August 03:48 PM Moody’s affirms Gulf Insurance IFSR

Mubasher: Moody's Investors Service has affirmed Gulf Insurance Group’s insurance financial strength rating (IFSR) at “A3”, with a “Stable” outlook. Moody’s said that this rating reflects Gulf Insurance’s strong and leading position in repaying …

The ratings agency also maintained the negative outlook

19 August 09:32 PM Moody's downgrades Tunisia’s credit rating

Mubasher: Moody's Investors Service has downgraded the long-term issuer rating of the government of Tunisia to B1 from Ba3 and maintained the negative outlook, according to a recent report. The ratings agency has also downgraded the foreign …

Fitch also maintained the positive outlook

19 August 09:28 PM Fitch upgrades Greece's credit rating

Mubasher: Fitch Ratings has upgraded Greece's long-term foreign-currency issuer default ratings to 'B-' from 'CCC', and maintained its positive outlook, according to a recent report. The ratings agency attributed the rating upgrade to a reduced …

Egypt's external liquidity position has significantly improved, the rise in reserves was mainly driven by debt-creating inflows

19 August 04:11 PM Moody's affirms Egypt's B3 rating; maintains stable outlook

Cairo - Mubasher: Moody's Investors Service has affirmed the government of Egypt's long-term issuer and senior unsecured bond ratings at B3, and maintained the stable outlook, according to a report issued on Friday. The rating affirmation is based …

The deterioration in asset quality was “less severe” than the bank’s previous expectations

17 August 01:51 PM Bank of America Merrill Lynch upgrades Al Rajhi Bank outlook to 'Buy'

Riyadh – Mubasher: Bank of America Merrill Lynch on Thursday upgraded Saudi Arabia-based Al Rajhi Bank’s outlook to "Buy" from "Neutral" with a price target (PT) of SAR 75. “We see Al Rajhi's earnings momentum gathering pace in the second half of …

The acquisition will help the Omani telecom operator company to lower operating costs through synergies

16 August 11:35 AM Omantel purchase of Zain stake considered credit positive - Moody's

Kuwait – Mubasher: Oman Telecommunications Co’s (Omantel) acquisition of a minority stake in Kuwait-based Mobile Telecommunications Co (Zain Group) is credit positive, according to Moody’s Investors Service. The acquisition will help the Omani …